29 Apr 2014 Last updated at 05:28:11 GMT
WASHINGTON (Scrap Monster): The US scrap export prices to Taiwan continued to drop during the third week of April. The US scrap suppliers are being forced to reduce the scrap prices owing to weak market conditions in Taiwan.
The quotes of the US container HMS 80:20 (1&2) to Taiwan were at US$356 ~ 358/ton C&F this week. The transaction prices quoted at US$352/ton, indicating a fall of US$3/ton from a week ago.
Industry sources indicate that steel mills in Southern Taiwan recently bought 13,000 tons from Japan at US$ 355/ton C&F.
The Taiwanese steel makers are seen bidding US scrap at lower levels. The mill quotes for US scraps slipped to as low as US$350/ton C&F.
Author: Paul Ploumis